Shale Hotels Acquires PA Holiday Inn
Wednesday September 18th, 2013 - 10:54AM EH
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MONROEVILLE, PA— Shale Hotels, Inc. acquired the 187-room Holiday Inn here.
HREC Investment Advisors arranged the sale to the local group, which has other hotel holdings in the region.
Shale plans on extensively renovating the asset with a focus on capturing more business related to gas exploration/drilling in the greater region, according to the company.
"In the hotel industry, it's all about location, location, location," stated Tejas Gosai, president of Shale Hotels, Inc. "The Holiday Inn Pittsburgh-Monroeville sits just east of Pittsburgh, literally on top of the PA Turnpike and Route 376. Not only is it a prime location for folks already in Pittsburgh or those traveling through our interstates, but also for those associated with the shale oil/gas industry."
Tags: Shale Hotels • Holiday Inn • Pittsburgh • HREC • Monroeville • gas • oil • shale • energy • Hospitality • Acquisitions • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.